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Medicare Surtax is misunderstood? Help me understand
User ID: 21945833
12/16/2012 04:14 PM
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I'm posting here because I do not have fellow peers to discuss this with and maybe I need a different point of view to help me understand it.
Ok ... I understand the 3.8% medicare surtax that will be effective on individuals, estates and trust starting January 1, 2013. When reading the Proposed Regs for some reason I think it will apply to more than just individuals, estates and trusts starting tax years after 12/31/2013.
There are a few pages to these regs. Part of the proposed regs are effective after 12/31/2012 and some are effective 12/31/13.
The question I have, will these proposed regs effect regular c corps (non-passive) with large investment portfolios and their main trade of business is something other than investments? I'm asking because it seems as the fellow sheep accountant only beleives what we learn in our continuing ed. But what about the proposed regs that are applicable effective after 12/31/2013 and that continuing ed have not touched on yet?
I feel that these regs are written and introducted to people in a way that hides the effects that will happen in the future. This should not be affecting me, but I would like a heads up so I can plan accordingly for clients.
Below is a link to the proposed regs.
A copy of the proposed regs are at
[link to s3.amazonaws.com (secure)]